Abstract

Focuses on the issue of an Asian Monetary Fund (AMF). At the time of its launch in March 2010, the Chiang Mai Initiative Multilateralisation (CMIM) was widely reported, particularly in Asia, as heralding the establishment of an AMF that would provide both an independent alternative to the IMF and distance from the influence of the USA. However, while the CMIM may well be a major step towards the establishment of such an AMF, as presently constituted it is neither separate from the IMF nor fully functional.